Downtown office icon Fountain Place has announced plans to open Cypress, an invitation-only private club, in early 2024. Managed by CBRE, the venue will send out membership invitations to office tenants and Dallas business elites and hopes to serve as a gathering place for area leaders.
“This is first-in class, first-in-market, and first-in-country, says Chris Hipps, senior managing director at CBRE. “It sets Fountain Place apart and marks a new era of workplace luxury. Correspondingly, it will offer the companies that office at Fountain Place a significant advantage in their effort to recruit new employees, as well as to retain their existing high-performers.”
Amenities will include two Trackman golf simulators, pickleball courts, and a hunting simulator—a first for an office space. “What sets Cypress at Fountain Place apart is that no one else has ventured into this unique blend, making them pioneers in redefining the way we work, play, and achieve a perfect swing under one roof,” says Matt Frelich, Trackman’s senior vice president, sales and business development for the Americas.
The launch of the club follows a $70 million renovation of the Fountain Place that updated the building’s interiors in 2017. The redevelopment included adding a 10-story garage between Fountain Place and the Fairmont Hotel; lobby renovations to create 30-foot ceilings; a custom glass wall art installation; adding a tenant lounge; and adding an 8,000-square-foot fitness center and training room. The project also added seating around the building’s signature fountain’s, designed by architect Dan Kiley. The building was originally designed and constructed by I.M. Pei and Harry Cobb in 1986.
Dallas-based Studio 11, led by owner and principal Kellie Sirna, is overseeing design. The club’s ambiance will feature items by regional and international artists, as well as a lavish bar.
“I wanted to tell a story that speaks to the rich and diverse tapestry that weaves Texas to some of its favorite pastimes—golf, hunting and food. In designing this space,” Sirna says. “I drew inspiration from the timeless elegance of Pei’s diamond-faceted building, the rich geometric foundations of [architect Dan] Kiley’s water features, and the soft beauty of the Cypress tree. It’s a design that pays homage to Texas ways of life, while embracing the spirit of innovation, art and nature that defines this remarkable place.”
Goddard Investment Group, which has owned the 58-story building since 2014, is hopeful the renovations and new club will attract new tenants. The tower has struggled to maintain occupancy post-pandemic, leaving 77 percent of its office space open, according to reports in July. Current tenants include Wells Fargo and Bracewell.
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